Consumer banking
Consumer banking
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Two banks failed on Friday, with the Federal Deposit Insurance Corp. only finding a buyer for one of the fallen institutions.
February 24 -
Flagstar Bancorp Friday agreed to pay up to $132.8 million to settle civil-fraud charges lodged by the Department of Justice that accused the bank of improperly approving loans for government insurance.
February 24 -
TD Bank has agreed to pay unspecified damages to victims of a former TD client who pleaded guilty two years ago to running a massive Ponzi scheme.
February 24 -
American Express Co., the largest credit-card issuer by spending, is facing an enforcement action by the Federal Deposit Insurance Corp. and possibly the Consumer Financial Protection Bureau over late fees it charged some charge-card customers, the company said Friday in a regulatory filing.
February 24 -
Schaller Equity Partners discloses plans to nominate five directors, escalating a nearly yearlong battle with the small Floyd, Va., banking company.
February 24 -
The Federal Deposit Insurance Corp. issued prompt corrective actions against five banks in January, telling them to either raise capital or be acquired by another institution.
February 24 -
Since releasing 2011 litigation numbers, WebRecon LLC has revised the year-end total after finding some omissions that, as it turns out, had depressed the count.
February 24 -
As the Transaction Account Guarantee program is such an important issue to community banks, I read with interest Ms. Barbara Rehm's column titled "Rehm on TAG: Don't Extend it, End it." The piece omitted discussion of the reasons the TAG was created by the FDIC in the first place and why those reasons are still valid today.
February 24 -
Bank of America Corp. is switching its U.S. employees to a single defined contribution retirement plan at the end of the second quarter.
February 24 -
The leadership of the American Bankers Association pushed attendees at this year's Conference for Community Bankers to stand united in public, while urging them to push lawmakers to sign onto a bill to address examination appeals.
February 24 -
Bank of America has revealed plans to stop selling mortgages to the giant GSE. The move could affect everything from loan repurchase negotiations to the future of mortgage market.
February 24 -
Atlantic Coast Financial Corp. in Jacksonville, Fla., reported a loss of $4 million in the fourth quarter, compared with a loss of $5.2 million a year earlier, as its expenses and loan-loss provision declined.
February 24 -
Discover's Pulse network is the latest offer person-to-person payment capabilities from Obopay. But widespread consumer demand seems to be lacking, as does a clear business case for financial institutions.
February 24 -
Commerce National Bank & Trust in Winter Park, Fla., has entered into a consent order with the Officer of the Comptroller of the Currency that requires it to clean up its loan portfolio and bolster its capital levels.
February 24 -
Citigroup Inc. Friday sold its entire stake in Indian mortgage lender Housing Development Finance Corp. for $1.9 billion that will likely help the U.S. banking giant improve its capital to meet strict international rules.
February 24 -
MasterCard Inc. will start charging a new acquirer licensing fee in July, the company confirmed with American Banker on Thursday.
February 23 -
Bank of America Corp. has stopped selling some residential mortgages to Fannie Mae, saying that it let its contract expire in part due to ongoing disputes over mortgage repurchase claims.
February 23 -
The sovereign debt crisis affects all of us, whether we're managing risk at a trillion-dollar bank in North America or at Main Street Bank in Small Town, USA. Even if we don't have customers overseas, our customers at home may be affected either directly or indirectly by events on the other side of the Atlantic.
February 23 -
With few banks over $1 billion of assets willing to sell, larger buyers resort to picking off clusters of smaller banks. Pressure to grow outweighs the added costs, executives say.
February 23 -
Much of the business ceded by B of A has been absorbed by Wells Fargo. Still, smaller lenders are making inroads as the giants scramble the playing field by shuttering origination channels, or exiting the business altogether.
February 23





